Homework Answers
| Sales revenue ($325000 + $57000) | 382000 | |
| Less: Expenses | ||
| Rent expense ($37000 x 1/2) | 18500 | |
| Salaries expense | 117000 | |
| Utilities expense ($47000 + $1700) | 48700 | 184200 |
| Net income | 197800 |
Answer: Net income $197800
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Cash flows during the first year of operations for the Harman Kardon Consulting Company were as...
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows:...
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $320,000; Cash paid for rent, $36,000; Cash paid to employees for services rendered during the year, $116,000; Cash paid for utilities, $46,000. In addition, you determine that customers owed the company $56,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,600 at year-end, and the rent payment...
BE 1-1 Accrual accounting Cash flows during the first year of operations for the Harman-Kardon Consulting...
BE 1-1 Accrual accounting Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $340,000; Cash paid for rent, $40,000; Cash paid to employees for services rendered during the year, $120,000; Cash paid for utilities, $50,000. In addition, you determine that customers owed the company $60,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $2,000 at year-end,...
Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon...
Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers, $310,000: Cash paid for rent, $34,000; Cash paid to employees for services rendered during the year, $114,000; Cash paid for utilities, $44,000 In addition, you determine that customers owed the company $54,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,400 at...
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows...
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded cash received for services rendered to clients, $430,000, and cash paid for salaries, utilities, and advertising. $245,000 $36,000 and $13,000, respectively. You also determine that customers owed the company $56.000 and $61,000 at the beginning and end of the year, respectively, and that the company owed the utility company $4,000 and $2.500 at the beginning and end of the year, respectively Complete...
Year 2 Year 3 $260,000 $360,000 170,000 310,000 Amounts billed to customers for services rendered Cash...
Year 2 Year 3 $260,000 $360,000 170,000 310,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 71,000 131,000 21,000 10,500 0 151,000 31,000 26,000 In addition, you learn that the company incurred advertising costs of $16,000 in year 2, owed the advertising agency $4,100 at the end of year 1, and there were no liabilities at the end of...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for the RPG Company. Year 2 Year 3 Amounts billed to customers for services rendered $ 300,000 $ 400,000 Cash collected from credit customers 210,000 350,000 Cash disbursements: Payment of rent 75,000 0 Salaries paid to employees for services rendered during the year 135,000 155,000 Utilities 25,000 35,000 Advertising 12,500 30,000 In addition, you learn that the company incurred advertising costs of $20,000 in...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 Amounts billed to customers for services rendered $ 400,000 $ 500,000 Cash collected from credit customers 310,000 450,000 Cash disbursements: Payment of rent 85,000 0 Salaries paid to employees for services rendered during the year 145,000 165,000 Travel and entertainment 35,000 45,000 Advertising 17,500 40,000 In addition, you learn that the company incurred advertising costs of $30,000...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 $440,000 $540,000 350,000 490,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Travel and entertainment Advertising 89,000 149,00 169,000 39,000 49,000 19,500 44,00 In addition, you learn that the company incurred advertising costs of $34,000 in year 2,...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for the RPG Company. Year 2 $ 260,000 170,000 Year 3 $360,000 310,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 71,000 131,000 21,000 10,500 0 151,000 31,000 26,000 In addition, you learn that the company incurred advertising costs of $16,000 in year...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 $310,000 $410,000 220,000 360,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Travel and entertainment Advertising 76,000 136,000 26,000 13,000 0 156,000 36,000 31,000 In addition, you learn that the company incurred advertising costs of $21,000 in year...
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $320,000; Cash paid for rent, $36,000; Cash paid to employees for services rendered during the year, $116,000; Cash paid for utilities, $46,000. In addition, you determine that customers owed the company $56,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,600 at year-end, and the rent payment...
BE 1-1 Accrual accounting Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $340,000; Cash paid for rent, $40,000; Cash paid to employees for services rendered during the year, $120,000; Cash paid for utilities, $50,000. In addition, you determine that customers owed the company $60,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $2,000 at year-end,...
Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers, $310,000: Cash paid for rent, $34,000; Cash paid to employees for services rendered during the year, $114,000; Cash paid for utilities, $44,000 In addition, you determine that customers owed the company $54,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,400 at...
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded cash received for services rendered to clients, $430,000, and cash paid for salaries, utilities, and advertising. $245,000 $36,000 and $13,000, respectively. You also determine that customers owed the company $56.000 and $61,000 at the beginning and end of the year, respectively, and that the company owed the utility company $4,000 and $2.500 at the beginning and end of the year, respectively Complete...
Year 2 Year 3 $260,000 $360,000 170,000 310,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 71,000 131,000 21,000 10,500 0 151,000 31,000 26,000 In addition, you learn that the company incurred advertising costs of $16,000 in year 2, owed the advertising agency $4,100 at the end of year 1, and there were no liabilities at the end of...
Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 $440,000 $540,000 350,000 490,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Travel and entertainment Advertising 89,000 149,00 169,000 39,000 49,000 19,500 44,00 In addition, you learn that the company incurred advertising costs of $34,000 in year 2,...
Listed below are several transactions that took place during the second and third years of operations for the RPG Company. Year 2 $ 260,000 170,000 Year 3 $360,000 310,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 71,000 131,000 21,000 10,500 0 151,000 31,000 26,000 In addition, you learn that the company incurred advertising costs of $16,000 in year...
Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 $310,000 $410,000 220,000 360,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Travel and entertainment Advertising 76,000 136,000 26,000 13,000 0 156,000 36,000 31,000 In addition, you learn that the company incurred advertising costs of $21,000 in year...
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